Chocolate is the largest part of the $34.5 billion US confectionary industry. Confectionary products can be roughly described as “candy” or “sweets” - so inclusive of gummies, sugar cookies and even gum. According to the National Confectioners Association, chocolate sales account for a whopping $21.1 billion of that candy industry – over 60%!!
That revenue of $21.1 billion in 2014 was a 2.9% increase over 2013. The greatest growth was in premium products, which expanded 11%, and in dark chocolate products, which grew 8%. Sales are expected to grow another 6% by 2017 to $22.4 billion.
Seasonal candy is a major driver of the confectionary industry, and in 2014 accounted for over 21% of sales – over $7 billion. This includes holiday specific packaging, shapes, colors and even flavors tailored to occasion – religious, cultural and perhaps especially the Hallmark holidays. Year over year growth in this seasonal category was a healthy 8.5%!